Harmonized Index of Consumer Prices: Food Including Alcohol and Tobacco for European Union (28 Countries)
FOOD00EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.26
Year-over-Year Change
2.68%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Food Including Alcohol and Tobacco tracks changes in the prices of food, alcohol, and tobacco products across the European Union (EU28). This key economic indicator is vital for monitoring inflation and consumer spending trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The HICP Food Including Alcohol and Tobacco index measures the overall price changes for a basket of food, alcohol, and tobacco products purchased by households in the EU28 countries. This index is a critical data point used by policymakers and analysts to assess the state of the EU economy and consumer price pressures.
Methodology
The data is collected through surveys of consumer prices across the EU28 member states and aggregated into a harmonized index.
Historical Context
The HICP Food index is closely watched by the European Central Bank and other institutions to help guide monetary policy decisions.
Key Facts
- The HICP Food index uses a common methodology across the EU28 countries.
- Food, alcohol, and tobacco account for over 20% of the HICP basket.
- The index is published monthly by Eurostat.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Food Including Alcohol and Tobacco tracks changes in the prices of food, alcohol, and tobacco products across the European Union (EU28).
Q: Why is this trend relevant for users or analysts?
A: This key economic indicator is vital for monitoring inflation and consumer spending trends in the EU, and is closely watched by policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices across the EU28 member states and aggregated into a harmonized index.
Q: How is this trend used in economic policy?
A: The HICP Food index is closely watched by the European Central Bank and other institutions to help guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly by Eurostat with no significant update delays.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Food Including Alcohol and Tobacco for European Union (28 Countries) (FOOD00EU28M086NEST), retrieved from FRED.